Jack A. Pacheco Sells 6,667 Shares of Penguin Solutions (NASDAQ:PENG) Stock

Penguin Solutions (NASDAQ:PENG) COO Jack A. Pacheco sold 6,667 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $20.55, for a total transaction of $137,006.85. Following the completion of the transaction, the chief operating officer now directly owns 231,548 shares in the company, valued at approximately $4,758,311.40. This represents a 2.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Penguin Solutions Price Performance

Penguin Solutions stock opened at $20.92 on Friday. Penguin Solutions has a 12-month low of $14.87 and a 12-month high of $29.81. The stock has a market cap of $1.11 billion, a P/E ratio of -40.23 and a beta of 1.69. The company has a debt-to-equity ratio of 1.61, a current ratio of 2.33 and a quick ratio of 1.75. The business’s fifty day moving average price is $19.15.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PENG shares. Loop Capital started coverage on shares of Penguin Solutions in a research note on Tuesday, January 7th. They issued a “buy” rating and a $30.00 target price on the stock. Citizens Jmp raised shares of Penguin Solutions to a “strong-buy” rating in a research note on Monday, November 18th. The Goldman Sachs Group started coverage on shares of Penguin Solutions in a research note on Friday, November 1st. They issued a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC raised their target price on shares of Penguin Solutions from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, January 9th. Finally, JMP Securities initiated coverage on shares of Penguin Solutions in a research note on Monday, November 18th. They set an “outperform” rating and a $23.00 price target on the stock. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Penguin Solutions presently has an average rating of “Buy” and a consensus price target of $25.43.

About Penguin Solutions

Penguin Solutions, Inc engages in the designing and development of enterprise solutions worldwide. It operates through three segments: Advanced Computing, Integrated Memory, and Optimized LED. It offers dynamic random access memory modules, solid-state and flash storage, and other advanced integrated memory solutions for networking and telecom, data analytics, artificial intelligence and machine learning applications; and supply chain services, including procurement, logistics, inventory management, temporary warehousing, programming, kitting, and packaging services.